Comerica Incorporated (NYSE:CMA) Shares Sold by Choreo LLC

Choreo LLC trimmed its holdings in Comerica Incorporated (NYSE:CMA) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,865 shares of the financial services provider’s stock after selling 195 shares during the quarter. Choreo LLC’s holdings in Comerica were worth $548,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Trust Co. of Vermont lifted its stake in shares of Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 321 shares during the period. Luken Investment Analytics LLC purchased a new position in Comerica in the fourth quarter valued at $31,000. V Square Quantitative Management LLC acquired a new position in shares of Comerica in the third quarter worth about $36,000. MCF Advisors LLC boosted its stake in shares of Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 228 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the 3rd quarter valued at about $42,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CMA. The Goldman Sachs Group cut Comerica from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $71.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. DA Davidson dropped their price target on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. UBS Group began coverage on shares of Comerica in a research report on Tuesday, December 17th. They set a “sell” rating and a $64.00 price objective for the company. Finally, Royal Bank of Canada dropped their target price on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $68.57.

Comerica Stock Up 1.4 %

Shares of CMA opened at $67.06 on Wednesday. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The stock has a fifty day simple moving average of $64.55 and a two-hundred day simple moving average of $62.05. The company has a market capitalization of $8.82 billion, a PE ratio of 13.36 and a beta of 1.25.

Comerica (NYSE:CMA) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the firm earned $1.46 EPS. As a group, equities analysts forecast that Comerica Incorporated will post 5.34 EPS for the current year.

Comerica declared that its board has approved a share repurchase plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.